Giles Lytton Strachey was born in 1880, the eleventh of thirteen children, to General Sir Richard Strachey and his wife Jane Grant. Though he spent some years at boarding schools, including Abbotsholme and Leamington College, he received much of his education at home. His mother enjoyed strong interests in literature and politics and Strachey met many of the leading writers and thinkers of the day when they came to visit Lady Strachey. Strachey's secondary education was completed at University College in Liverpool where he studied Latin, Greek, mathematics, and English literature and history. It was at University College that he met and was influenced by Walter Raleigh, a professor of English literature and well known biographer.

After failing to receive a scholarship to Oxford in 1899, Strachey decided to attend Cambridge where he developed many friendships which lasted the rest of his life. At Cambridge he met Clive Bell, Thoby Stephen, and Leonard Woolf, with whom he started the Midnight Society and the X Society. Along with many other future Bloomsberries he was elected to the Apostles. In 1903 fellow Apostle G.E. Moore's was published, producing a profound effect on the aspiring intellectuals. became a rationalizing factor in loosening the repression of homosexual tendencies among the Apostles and in Trinity and King's College as well.

Strachey completed his work at Cambridge with a thesis on Warren Hastings but failed to receive a Trinity fellowship. He returned to his parents' home in Lancaster Gate and sought to support himself as a journalist. Much of his social life centered on the Bloomsbury group which focused on the Thursday night at-homes of the Stephenses (Thoby, Adrian, Vanessa [Bell], and Virginia [Woolf]). Over the next several years Strachey traveled, visited friends and wrote his first book, (1912) which was commissioned by H.A.L. Fisher. In 1910 Strachey made the acquaintance of Ottoline Morrell with whom he carried on a playful and extended correspondence over the years. Through Morrell he met Henry Lamb and Henry Norton, who loaned him £100 to rent a cottage so he could begin his next major work, (1918). In 1915 Strachey met Dora Carrington, a graduate of the Slade School of Art and the woman who would shortly devote herself to him for the rest of his life.

In 1917 Strachey and Carrington moved into a cottage in Tidemarsh, Oxfordshire, and continued to carry on with their personal lives. Carrington maintained a relationship with fellow artist Mark Gertler before marrying Ralph Partridge in 1921, and Strachey moved through a series of relationships as well. Strachey's time at Tidemarsh cottage was also spent productively writing. He followed with (1921) and produced a collection of essays, as well. His style was becoming very popular and he began to achieve a measure of fame which allowed him to support himself and his household from the proceeds of his writing. In 1924 Strachey purchased the lease to Ham Spray House and he, along with Carrington and Partridge, moved in. He completed in 1928 and started which were completed posthumously by Ralph and Frances Partridge and Roger Fulford.

Though his frequent ill-health often made it difficult, Strachey enjoyed traveling and made several trips abroad between 1928 and 1931. Late in 1931 he began to decline rapidly from an illness which doctors were unable to identify. He died January 21, 1932, of what was later found to be stomach cancer. Carrington committed suicide a few weeks later, unable to live without him.